Ethereum

Resistance

XRP price extended losses and traded below the $0.50 zone. The price tested the $0.4700 zone and is currently attempting a short-term recovery wave. 
<ul> 
 <li>XRP is slowly moving higher from the $0.470 support.</li> 
 <li>The price is now trading below $0.4850 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break above a connecting bearish trend line with resistance at $0.480 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could recover, but the bears might be active near the $0.4880 resistance.</li> 
</ul> 
<h2 id="xrp-price-finds-support">XRP Price Finds Support</h2> 
XRP price failed to recover above the $0.4880 resistance like <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-slips-3430/" target="_blank" rel="noopener ">Ethereum</a> and <a href="https://www.newsbtc.com/analysis/btc/bitcoin-in-decline-66k/" target="_blank" rel="noopener ">Bitcoin</a>. The price extended losses below the $0.480 level. It even tested the $0.470 zone. A low was formed at $0.4701 and the price is now eyeing a short-term recovery wave. 
There was a move above the $0.4750 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.5053 swing high to the $0.4701 low. 
Besides, there was a break above a connecting bearish trend line with resistance at $0.480 on the hourly chart of the XRP/USD pair. However, it is still trading below $0.4850 and the 100-hourly Simple Moving Average. 
On the upside, the price is facing resistance near the $0.4850 level. The first key resistance is near $0.4880 or the 50% Fib retracement level of the downward move from the $0.5053 swing high to the $0.4701 low. The next major resistance is near the $0.4920 level. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_3de63f.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-624138 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_3de63f.png?resize=1024%2C461" alt="XRP Price " width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_3de63f.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_3de63f.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_3de63f.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_3de63f.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_3de63f.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_3de63f.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_3de63f.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
A close above the $0.4920 resistance zone could send the price higher. The next key resistance is near $0.50. If there is a close above the $0.50 resistance level, there could be a steady increase toward the $0.5050 resistance. Any more gains might send the price toward the $0.5250 resistance. 
<h2 id="more-losses">More Losses?</h2> 
If XRP fails to clear the $0.4850 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4750 level. 
The next major support is at $0.470. If there is a downside break and a close below the $0.470 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.4550 support in the near term. 
Technical Indicators 
Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. 
Major Support Levels – $0.4750 and $0.4700. 
Major Resistance Levels – $0.4850 and $0.4920.

XRP Price Temporary Bounce: Recovery Might Not Last

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